The Cash for Clunkers Program ends today but here comes another program, Cash for Refrigerators or Cash for Appliances. This new program is patterned to the Cash for Clunkers but this has a smaller budget--$300 million. This program authorizes rebates of $50 to $200 for purchases of high-efficiency household appliances. Would the $300 million be enough to save those appliance companies badly hit by the recession? Would this bring back Electrolux to life? Well, that remains to be seen.
Energy Secretary Steven Chu said in a statement :
"These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy."
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